Latest news with #DarrenEntwistle
Cision Canada
13 hours ago
- Business
- Cision Canada
Setting a course for reliability: TELUS receives necessary approvals to deploy North Shore submarine cable
Burying a submarine fibre optic cable between Sept-Îles and the Gaspé Peninsula will bring critical connectivity - ensuring redundancy and network security between Baie-Comeau and Lourdes-de-Blanc-Sablon SEPT-ÎLES, QC, July 15, 2025 /CNW/ - TELUS is reaching an important milestone in its project to deploy a buried submarine cable between Sept-Îles and the Gaspé Peninsula, a major initiative originally announced in 2020. The required permits have been obtained following a consultation process with Indigenous communities and TELUS can now deploy the submarine cable, which is set to begin this fall. Commissioning of the cable is expected in the weeks following the deployment, future-proofing the communities in the face of increasingly severe weather events. "We are building infrastructure and deploying technology for more robust connectivity and the critical services this enables," said Darren Entwistle, President and CEO at TELUS. "The new submarine fibre optic cable will significantly enhance the potency and resiliency of our networks, enabling public utilities to fulfil their mission, local businesses to take full advantage of digital opportunities and families to benefit from a powerful and reliable connection. Given the increasingly severe weather events posing greater risks to connectivity, this redundant infrastructure ensures first responders and families maintain critical communications when they need them most." This new, state-of-the-art link will ultimately improve the reliability of telecommunications services on the North Shore and Lower North Shore, thanks to improved redundancy. In the event of a break in the data transport network along Route 138 between Baie-Comeau and Sept-Îles, the fibre optic cable will ensure continuity of Internet, TV, and wireline and wireless services to the region's communities. "Nowadays, the entire population of Quebec should have access to reliable and affordable high-speed Internet services," emphasizes the Secretary of State (Rural Development), the Honourable Buckley Belanger. "The federal government's investment, in collaboration with TELUS, will help improve network reliability for communities on the North Shore and Lower North Shore. This submarine project will create jobs, improve access to healthcare and online learning services, and maintain communication between people and their loved ones." This project is a continuation of TELUS efforts to bridge the digital divide in rural communities. TELUS plans to invest $70 billion in Canada by 2029. These funds will be used for infrastructure development, business expansion and spectrum licence acquisition. The regional proactivity of TELUS is also evident in its community involvement. Each year, the TELUS Friendly Future Foundation® donates tens of thousands of dollars to various organizations on the North Shore and the Lower North Shore that benefit young people. About TELUS TELUS (TSX: T) (NYSE: TU) is a world-leading communications technology company operating in more than 45 countries and generating over $20 billion in annual revenue with more than 20 million customer connections through our advanced suite of broadband services for consumers, businesses and the public sector. We are committed to leveraging our technology to enable remarkable human outcomes. TELUS is passionate about putting our customers and communities first, leading the way globally in client service excellence and social capitalism. Our TELUS Health business is enhancing more than 150 million lives across 200 countries and territories through innovative preventive medicine and well-being technologies. Our TELUS Agriculture & Consumer Goods business utilizes digital technologies and data insights to optimize the connection between producers and consumers. Guided by our enduring 'give where we live' philosophy, TELUS, our team members and retirees have contributed $1.8 billion in cash, in-kind contributions, time and programs including 2.4 million days of service since 2000, earning us the distinction of the world's most giving company. For more information, visit or follow @TELUSNews on X and @Darren_Entwistle on Instagram. SOURCE TELUS Communications Inc.
Yahoo
02-07-2025
- Business
- Yahoo
CIBC Foundation and TELUS Friendly Future Foundation announce landmark $2 million partnership
New partnership strengthens commitment to nationwide educational access, creating more pathways for students facing barriers TORONTO, July 2, 2025 /CNW/ - The CIBC Foundation and the TELUS Friendly Future Foundation announced a transformative $2 million partnership to launch the TELUS Momentum Student Bursary, powered by CIBC Foundation. With each Foundation contributing $1 million, this multi-year partnership will fuel momentum for up to 500 young changemakers from the Black community, helping them accelerate their ambitions and impact across the globe. "This innovative partnership unites two leading Canadian Foundations with a shared vision to expand educational and leadership opportunities for our youth," said Darren Entwistle, President and CEO, TELUS. "Today's landmark funding commitment by the TELUS Friendly Future Foundation and CIBC Foundation will enable us to further expand our TELUS Student Bursary program, equipping the next generation of leaders with the essential tools to realize their dream of post-secondary education while also effecting meaningful change within their communities. Together, we are paving the way for a more inclusive and dynamic workforce in Canada, and creating a friendlier future for all Canadians." "The launch of the TELUS Momentum Student Bursary, powered by CIBC Foundation is a testament to both Foundations' continued efforts in ensuring that our next generation of leaders have access to a brighter, more inclusive future," said Victor Dodig, President and CEO, CIBC. "The bursary will generate momentum for their ambitions to flourish and help them address some of society's most pressing issues. Together, this new partnership helps us do even more to create a world where everyone has the opportunity to realize their ambitions." The TELUS Momentum Student Bursary, powered by CIBC Foundation, will unlock access to education and career pathways for young Black leaders, whose talents and community leadership are critical for helping solve pressing social issues. Bursaries are awarded to students who are facing financial barriers and are committed to making a difference in their communities. Recipients will also benefit from comprehensive support, including TELUS' Mobility for Good and Internet for Good programs, access to the CIBC Best Student Life Bundle and CIBC Smart Planner, which can help create healthier financial habits, free mental health support from TELUS Health, as well as career learning opportunities enabled by TELUS. "The support from CIBC Foundation and TELUS Friendly Future Foundation has given me the opportunity to focus on my studies and get involved in community work that I'm passionate about," said Kay Palmer, recipient of the TELUS Momentum Student Bursary, powered by CIBC Foundation. "My dream is to work in forensic psychology, and this support is helping me become the change I want to see. Together, we'll keep this momentum going and build a more inclusive tomorrow." Since the launch of the TELUS Student Bursary in 2023, the TELUS Friendly Future Foundation has already provided bursaries to more than 1000 students across nine provinces and 93 different schools, with more than 50 percent awarded to first-generation post-secondary students. With applications already received for the 2025/26 academic year, this partnership with CIBC Foundation will enable more students to receive bursary support starting Fall 2025. For more information about the TELUS Student Bursary program and how you can support the next generation of Canadian leaders, visit About CIBC Foundation CIBC is a leading North American financial institution with 14 million personal banking, business, public sector and institutional clients. The CIBC Foundation serves our commitment to creating a world without limits to ambition by championing inclusive communities, investing in financial education and supporting cancer research, treatment, education and support programs through corporate donations and community partnerships. Learn more about our community impact. Ongoing news releases and more information about CIBC can be found at About TELUS Friendly Future Foundation TELUS Friendly Future Foundation is a Canadian registered charity that believes all youth, regardless of circumstance, deserve an equal opportunity to reach their full potential. By funding more than 500 charities each year that provide education and health programs, many enabled by technology, along with providing educational bursaries, TELUS Friendly Future Foundation is helping youth across Canada build skills, confidence and feel a sense of belonging. In 2024 alone, we provided more than $11 million in grants to 500+ charitable programs across Canada, and over $2 million in bursaries to 500+ post-secondary students in financial need who are committed to making a difference in their communities. About TELUS TELUS (TSX: T, NYSE: TU) is a world-leading communications technology company operating in more than 45 countries and generating over $20 billion in annual revenue with more than 20 million customer connections through our advanced suite of broadband services for consumers, businesses and the public sector. We are committed to leveraging our technology to enable remarkable human outcomes. TELUS is passionate about putting our customers and communities first, leading the way globally in client service excellence and social capitalism. Our TELUS Health business is enhancing more than 150 million lives across 200 countries and territories through innovative preventive medicine and well-being technologies. Our TELUS Agriculture & Consumer Goods business utilizes digital technologies and data insights to optimize the connection between producers and consumers. Guided by our enduring 'give where we live' philosophy, TELUS, our team members and retirees have contributed $1.8 billion in cash, in-kind contributions, time and programs including 2.4 million days of service since 2000, earning us the distinction of the world's most giving company. For more information, visit or follow @TELUSNews on X and @Darren_Entwistle on Instagram. For media inquiries, please contact: Saara Rahikka TELUS Public Relations SOURCE TELUS Friendly Future Foundation View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
02-07-2025
- Business
- Cision Canada
CIBC Foundation and TELUS Friendly Future Foundation announce landmark $2 million partnership
New partnership strengthens commitment to nationwide educational access, creating more pathways for students facing barriers TORONTO, July 2, 2025 /CNW/ - The CIBC Foundation and the TELUS Friendly Future Foundation announced a transformative $2 million partnership to launch the TELUS Momentum Student Bursary, powered by CIBC Foundation. With each Foundation contributing $1 million, this multi-year partnership will fuel momentum for up to 500 young changemakers from the Black community, helping them accelerate their ambitions and impact across the globe. "This innovative partnership unites two leading Canadian Foundations with a shared vision to expand educational and leadership opportunities for our youth," said Darren Entwistle, President and CEO, TELUS. "Today's landmark funding commitment by the TELUS Friendly Future Foundation and CIBC Foundation will enable us to further expand our TELUS Student Bursary program, equipping the next generation of leaders with the essential tools to realize their dream of post-secondary education while also effecting meaningful change within their communities. Together, we are paving the way for a more inclusive and dynamic workforce in Canada, and creating a friendlier future for all Canadians." "The launch of the TELUS Momentum Student Bursary, powered by CIBC Foundation is a testament to both Foundations' continued efforts in ensuring that our next generation of leaders have access to a brighter, more inclusive future," said Victor Dodig, President and CEO, CIBC. "The bursary will generate momentum for their ambitions to flourish and help them address some of society's most pressing issues. Together, this new partnership helps us do even more to create a world where everyone has the opportunity to realize their ambitions." The TELUS Momentum Student Bursary, powered by CIBC Foundation, will unlock access to education and career pathways for young Black leaders, whose talents and community leadership are critical for helping solve pressing social issues. Bursaries are awarded to students who are facing financial barriers and are committed to making a difference in their communities. Recipients will also benefit from comprehensive support, including TELUS' Mobility for Good and Internet for Good programs, access to the CIBC Best Student Life Bundle and CIBC Smart Planner, which can help create healthier financial habits, free mental health support from TELUS Health, as well as career learning opportunities enabled by TELUS. "The support from CIBC Foundation and TELUS Friendly Future Foundation has given me the opportunity to focus on my studies and get involved in community work that I'm passionate about," said Kay Palmer, recipient of the TELUS Momentum Student Bursary, powered by CIBC Foundation. "My dream is to work in forensic psychology, and this support is helping me become the change I want to see. Together, we'll keep this momentum going and build a more inclusive tomorrow." Since the launch of the TELUS Student Bursary in 2023, the TELUS Friendly Future Foundation has already provided bursaries to more than 1000 students across nine provinces and 93 different schools, with more than 50 percent awarded to first-generation post-secondary students. With applications already received for the 2025/26 academic year, this partnership with CIBC Foundation will enable more students to receive bursary support starting Fall 2025. For more information about the TELUS Student Bursary program and how you can support the next generation of Canadian leaders, visit About CIBC Foundation CIBC is a leading North American financial institution with 14 million personal banking, business, public sector and institutional clients. The CIBC Foundation serves our commitment to creating a world without limits to ambition by championing inclusive communities, investing in financial education and supporting cancer research, treatment, education and support programs through corporate donations and community partnerships. Learn more about our community impact. Ongoing news releases and more information about CIBC can be found at About TELUS Friendly Future Foundation TELUS Friendly Future Foundation is a Canadian registered charity that believes all youth, regardless of circumstance, deserve an equal opportunity to reach their full potential. By funding more than 500 charities each year that provide education and health programs, many enabled by technology, along with providing educational bursaries, TELUS Friendly Future Foundation is helping youth across Canada build skills, confidence and feel a sense of belonging. In 2024 alone, we provided more than $11 million in grants to 500+ charitable programs across Canada, and over $2 million in bursaries to 500+ post-secondary students in financial need who are committed to making a difference in their communities. About TELUS TELUS (TSX: T, NYSE: TU) is a world-leading communications technology company operating in more than 45 countries and generating over $20 billion in annual revenue with more than 20 million customer connections through our advanced suite of broadband services for consumers, businesses and the public sector. We are committed to leveraging our technology to enable remarkable human outcomes. TELUS is passionate about putting our customers and communities first, leading the way globally in client service excellence and social capitalism. Our TELUS Health business is enhancing more than 150 million lives across 200 countries and territories through innovative preventive medicine and well-being technologies. Our TELUS Agriculture & Consumer Goods business utilizes digital technologies and data insights to optimize the connection between producers and consumers. Guided by our enduring 'give where we live' philosophy, TELUS, our team members and retirees have contributed $1.8 billion in cash, in-kind contributions, time and programs including 2.4 million days of service since 2000, earning us the distinction of the world's most giving company. For more information, visit or follow @TELUSNews on X and @Darren_Entwistle on Instagram. For media inquiries, please contact: Saara Rahikka TELUS Public Relations [email protected] SOURCE TELUS Friendly Future Foundation
Yahoo
13-06-2025
- Business
- Yahoo
Telus proposes full acquisition of Telus Digital
Canadian telecom company Telus has proposed buying all remaining shares of its listed digital services subsidiary, Telus Digital for $3.40 per share. The price represents a 15% premium over Digital's 11 June 2025, closing price on the New York Stock Exchange and a 23% premium over its 30-day volume-weighted average price on Canadian and US markets. The digital arm operates across various industries, including technology, communications, Fintech, travel, retail, healthcare, and automotive. The move is part of the company's strategy to tighten its grip on the unit's AI capabilities. Telus president and CEO Darren Entwistle said: 'Our proposal to fully acquire Telus Digital reflects our belief that closer operational proximity between Telus and Telus Digital will enable enhanced AI capabilities and SaaS transformation across all lines of our business.' Telus already owns 57.4% of the digital arm's shares, including 152,004,019 multiple voting shares and 6,874,822 subordinate voting shares, holding 86.9% of voting power, per Digital's Q1 2025 financials. The non-binding offer, which could be paid in cash, Telus shares, or a mix of both, hinges on due diligence, a mutually agreed transaction structure, and definitive agreements. It also needs approval from Telus Digital's board, and has therefore urged Digital's board to form a special committee of independent directors to review the proposal. At this stage, no formal agreement has been established, and there is no guarantee that a transaction will occur, according to the company. Entwistle added: 'We anticipate that our deep familiarity with Telus Digital will enable us to conclude this proposed transaction, with appropriate engagement from Telus Digital, quickly and efficiently and, post-closing, effectively integrate the business and the team. 'Telus Digital will continue to be an important business unit within Telus, underscored by its demonstrated leadership in customer service excellence, digital transformation and heartfelt caring in the communities where team members live, work and serve.' Barclays is acting as the exclusive financial advisor to Telus, while Stikeman Elliott and A&O Shearman are providing legal counsel. In May 2025, Telus announced plans to invest more than C$70bn ($51bn) in Canada by 2029 to enhance its network infrastructure. The investment will focus on launching two new AI data centres, expanding wireless coverage in rural areas, and reducing greenhouse gas emissions through eco-friendly technologies. "Telus proposes full acquisition of Telus Digital" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
12-06-2025
- Business
- Globe and Mail
Telus fails to deliver on Entwistle's IPO-based growth strategy
Would anyone buy another initial public offering promoted by long-serving Telus Corp. T-T chief executive officer Darren Entwistle? If the answer to that question is no, Mr. Entwistle's growth strategy at Telus is dead in the water. And it's hard to imagine investors stepping up for future Telus spinoffs after Tuesday's announcement that the parent company wants to put troubled offspring Telus International (Cda) Inc. TIXT-T out of its public market misery. Telus is offering to buy out shareholders in its subsidiary at a steep 86-per-cent discount to the price of its IPO, done with considerable fanfare just four years ago. Mr. Entwistle, a dominating personality who has been at the helm for 25 years, built Telus beyond its legacy phone networks by investing billions in subsidiaries focused on digital customer services, health care and agriculture. The idea was to incubate these businesses inside the Vancouver-based telecom, then launch them as public companies, with Telus shareholders reaping rewards from the value created on Mr. Entwistle's watch. Telus International – rebranded in 2024 as Telus Digital Experience – was meant to be the first in a series of spinoffs. Telus Health is up next, with an IPO anticipated as early as 2026. The incubator concept initially looked like a winner, as Telus Digital went public in 2021 at US$25 per share in what the parent company proudly heralded as the largest tech IPO in Toronto Stock Exchange history. At the time, Telus Digital's US$8.5-billion market capitalization rivalled that of the parent telecom. Execution failed to match ambition. Telus Digital proved a case study in value destruction. The company's challenges include a core business that runs call centres for clients such as retailers, hotels and banks. Artificial intelligence-based systems now dominate this space. Telus Digital proved slow to pivot, and customers moved on. On Wednesday, Telus reversed field by making a 'non-binding indication of interest,' or IOI, to acquire the 42.6 per cent of Telus Digital shares it doesn't own for US$3.40 each. Telus Digital shares promptly jumped 24 per cent Thursday to close at US$3.67 on expectations the parent company will be forced to goose its bid to get a deal done. Mr. Entwistle put a brave face on Telus Digital's face plant. In announcing the IOI, he said reintegrating the unit's tech expertise will benefit all of Telus's businesses, including telecom. While that may be true, buying back the subsidiary is an admission of failure. Telus set lofty goals for its diversification strategy, then failed to hit them. Telus proposes buying back Telus Digital for more than US$400-million Telus Health prepares to stand alone after years of acquisitions 'Today's rather dismal proposal has no 'congratulatory' terms that were to be found at the time of the IPO,' said analyst Tyler Tebbs at Tebbs Capital in a report. He said Telus is only offering to repurchase its subsidiary after failing to find a buyer for the business. Memories are long in financial circles. Mr. Tebbs compared the Telus offer to the ill-fated M&A at Time Warner Inc. in the recent past. He said the buyback 'is yet another example of a telecom/media company reversing a transaction done in much better times at the expense of shareholders.' In public markets, you're only as good as your last deal. Fund mangers got caught up in a craze for all things digital during the early days of the pandemic. That dynamic set the stage for a successful IPO at Telus Digital. The second time around, institutional and retail investors will be far more skeptical about buying when Mr. Entwistle is selling. To get an IPO done at Telus Health or Telus Agriculture, the parent company will likely be forced to accept a steep discount to the underlying value of the business, which defeats the purpose of the incubator concept. Yet without the ability to exit investments, Mr. Entwistle is running a debt-heavy conglomerate, anchored by a well-run but slow-growth telecom network that qualifies as critical infrastructure for the Canadian economy. Outside of founder-run businesses, it's hard to name a domestic public company more identified with its CEO than Telus. At Telus Digital, Mr. Entwistle's IPO-based growth strategy failed to deliver. The Telus board, chaired by former deputy prime minister John Manley, needs to ask hard questions about what comes next and who is best positioned to lead a business that has become the vision of a single executive.
